Gold Bullion 'Vulnerable' Below $1335 as US Fed & Euro Interest-Rate Policies Challenged

by Adrian Ash
Financial Sense

Gold bullion held in a tight range Wednesday morning in London, trading $10 below the previous 3 sessions’ floor of $1335 per ounce as European stock markets rose and government bonds eased back ahead of a raft of central banker speeches, including Fed chair Janet Yellen testifying to US lawmakers on financial regulation.

European Central Bank chief Mario Draghi meets later today with German politicians, with allies of Berlin chancellor Merkel set to demand ” clear answers on what monetary policy has achieved, apart from an expansion of joint liability in the Eurozone.”

Besides Yellen’s appearance on Capitol Hill, four other members of the FOMC are due to speak.

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